Lucintel Estimates North America Region Will Represent More Than 46% of the Global Tooling Composites Market by 2019

Irving, TX, October 22, 2014 --(PR.com)-- Composite tools are used in a variety of markets such as, wind energy, transportation, aerospace, construction, marine, and consumer goods. Composite tools are made either from glass fibers or carbon fibers mixed with a suitable matrix (resin) such as, epoxy and BMI. Composite tools are lightweight, dimensionally accurate, and affordable, which makes it a favorable choice for OEMs. Increasing penetration of composites tooling in the aerospace and other niche applications is the driving force of the composites tooling market. The North American region will represent more than 46% of the global market by 2019.

Composite tools are the first choice when there is a need for lower production cycles, as composite tools serve the purpose with greater accuracy at a lower cost. Metal tools require a lot of manual efforts as compared to that required by composite tools. To decrease the weight of the tool, manufacturers are producing hybrid tools that make use of composites as well as metals.

The composites tooling market is expected to increase at a CAGR of 8.8% by 2019. The marine segment will remain the largest segment in the global composites tooling market. In terms of raw material type, epoxy resin-based tooling composites will be the major segment during the forecast period. Prepregs are the first choice of tool manufacturers, favored by excellent surface finish and high tool strength. Cytec Corporation, Hexcel Corporation, Airtech Advanced Materials Group, and Royal TenCate NV are some of the major suppliers of the tooling composite materials. These companies are important players in the tooling composites market because of their innovation and investment in research and development to find new applications.

Lucintel, a leading global management consulting and market research firm, has analyzed the global tooling composites market by raw material type, material form, application, and region and has come up with a comprehensive research report, “Growth Opportunities in Global Tooling Composites Market 2014-2019.” This report provides an analysis of the global tooling composites market, including the market trends, company profiles, growth opportunities, key drivers, and emerging trends of the market. The study also includes the global tooling composites market forecasts over 2014-2019, segmented by region, application, raw material type, and material form as follows:

Global composites tooling market by region:
· North America (NA)
· Europe
· Asia Pacific (APAC)
· Rest of World (ROW)

Global composites tooling market by application for the above regions:
· Transportation
· Marine
· Wind energy
· Aerospace
· Others

Global tooling composites market by raw material type:
· Glass Fiber
· Carbon Fiber
· Epoxy Resin
· BMI Resin
· Other Materials

Global tooling composites market by material form:
· Fabric
· Prepreg

This 140 page research report will enable you to make confident business decisions in the global tooling composites market. For a detailed table of contents and pricing information on this timely, insightful report, click on this link: http://www.lucintel.com/index.aspx or contact Lucintel at +1-972-636-5056, or via email at helpdesk@lucintel.com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, market insight, and cost efficiency. To learn more, visit www.lucintel.com. You can also contact us through Live Chat, located on the website, to answer your questions in real time.

About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategy for growth, whether you need to understand market dynamics, identify new opportunities, or increase your profitability. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. Over the last 15 years, Lucintel has served over 1,000 corporations in 70 countries. For further information, visit www.lucintel.com.